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Covansys to invest $8 mn; hire 1,800 in India
May 18, 2004 15:27 IST
Covansys Corporation, the US-based software services and solutions firm, is investing $6-8 million in expanding its India presence and aims to ramp up its workforce here by another 1,800 people.
The $378 million Covansys, one of the first American firms to have an offshore delivery centre in India, has development centres in Chennai, Bangalore and Mumbai employing a total of 3,200 people.
Its Chennai centre has 2,500 people and the Bangalore centre employs about 600.
Driving its India centre's growth has been the recent deal with Fidelity National Financial, which has picked up a 29 per cent stake and assured a $150 million five-year deal.
"We are adding new clients and also seeing growth from our existing clients like Peoplesoft," Covansys India president and CEO K Subrahmaniam said.
Covansys, which plans to expand further, is looking at acquiring firms with significant offshore presence and an annuity business, he said, adding that the firm was talking with several players in this regard."It should be mutually beneficial for both the companies. We are evaluating several proposals," he said.